Kathmandu, Jan. 14 -- In a major development towards accessing climate finance, the Alternative Energy Promotion Centre and the Green Climate Fund have reached an understanding, which will pave the way for Nepal, one of the most climate change vulnerable countries, to lay its claim for financial support.

The Green Climate Fund (GCF), a global platform that helps countries fight climate change by investing in low-emission and climate-resilient development, and the Alternative Energy Promotion Centre (AEPC), the Nepal government entity responsible for promoting clean and renewable energy, signed the Accreditation Master Agreement last week.

As per the agreement, the GCF will start allocating funds for the AEPC, which is the first and the ...